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Trend analysis (Fig. 1).
The euro-dollar pair may move upward from the level of 0.9834 (close of yesterday's daily candle) to 0.9900, the 23.6% retracement level (white dotted line). Upon reaching this level, continued upward movement is possible with the target of 0.9960, the 38.2% retracement level (white dotted line). When testing this level, the price may move down.
Fig. 1 (daily chart).
Comprehensive analysis:
General conclusion:
Today the price may move upward from the level of 0.9834 (close of yesterday's daily candle) to 0.9900, the 23.6% retracement level (white dotted line). Upon reaching this level, continued upward movement is possible with the target of 0.9960, the 38.2% retracement level (white dotted line). When testing this level, the price may move down.
Alternative scenario: from the level of 0.9934 (close of yesterday's daily candle), the price may move downward to the historical support level 0.9708 (blue dotted line). Upon reaching this level, an upward movement is possible to test the lower fractal 0.9808 (white dotted line).
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